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Credit Insurance

Life can get complicated when unforeseen events occur. Protecting your loan payments against covered qualifying life events and unexpected disability with credit insurance could help protect more than your finances. It could help lighten the financial burden for the people you care about most.

Coverage basics and benefits

We make available Credit Life and Disability Insurance1 on most of our personal loan products.2 Coverage is available as a one-time option that you must select at loan origination. You cannot add coverage or change your coverage option after your loan has been originated.

Credit insurance coverage includes the following benefits:
  • 30-day "free-look" period3,4

  • $600 maximum insured monthly loan payment

  • $50,000 maximum insured loan balance

  • Coverage available up to age 705

  • Coverage can be canceled any time, for any reason, by written request3,4

Credit Life Insurance

Credit Life Insurance may pay up to $50,000 toward an outstanding loan balance in the event of an insured’s death, accidental dismemberment, or certified diagnosis of a terminal illness.6 Single or joint7 coverage is available on auto loans, Open-End and Closed-End Signature Loans, Share-Secured Loans, and Term Note Loans.

Credit Disability Insurance

Disability coverage may pay up to $600 a month toward your loan payment in the event you become disabled.8 You must be disabled for at least 30 days to qualify for benefits. After 30 days, the policy coverage is retroactive to the first day of disability and benefits are paid according to the policy certificate.

Credit Disability Insurance is not available as a stand-alone coverage option; it must be selected in conjunction with single or joint Credit Life Insurance.9